By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Directed Electronics announced it signed a definitive agreement to purchase the remote start and vehicle security product assets of DesignTech International, Springfield, Va. The transaction was scheduled to be finalized in June.
Jim Minarik, president/CEO of Directed, said the purchase will help strengthen Directed's position in the auto-parts retail channel, where DesignTech had a strong presence and will broaden Directed's selection. “Remote start continues to increase in importance as consumer awareness and enthusiasm for the category grows,” said Minarik.
Terms of the transaction were not disclosed.
Key DesignTech employees Rob Sterner and Arturas Rainys are expected to join Directed as national sales manager and product category manager, respectively.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.